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Comment by Winternyght

For horde paladins only:The paladin epic mount quest chain requires payment of 150 gold, a crepuscular powder, an arcane catalyst, and a bunch of collectible items along with some soloable quest objectives. The base price of crepuscular powder is 150 gold, and if you are exalted with Silvermoon, it costs 120 gold. The arcane catalyst costs a base 50 gold, and at exalted with Silvermoon it costs 40 gold.

So the total price of the money dump items plus the quest payment is 310-350 gold. You will also need:40 Runecloth (drops from high level humanoids/undead in Azeroth)6 Arcanite Bars (an alchemist can transmute this with 6 Arcane Crystals and 6 Thorium Bars)10 Sungrass (gathered from lv 40-60 zones)5 Dark Rune (these drop in the Scholomance)Azerothian Diamond (these can be mined from thorium nodes or prospected from thorium ore)Pristine Black Diamond (drops from a wide variety of ~lv. 60 elite mobs in Azeroth)

This can be compared to the 600 gold base price of Riding (150), which costs 480 gold at exalted. I don't know how much the paladin mount costs from the trainer, but you can purchase it there if you have Riding (150). It's probably a lot easier to buy the mount, but if you really wanted to save some gold, you could certainly gather the items on your own. In fact if you hold on to runecloth at all, you probably already have 40. Sungrass is often cheap, depending on your server. If you have mining, and have saved some thorium and arcane crystals like I did, that portion of the quest will be fantastically easier. And of course just get some guildies to run you through Scholomance, or gather up a group for it. Many players may not prefer to run it, but it's not very difficult if you can get at least one lv 70 or higher character to come. The gems may be a bit harder, but if you save enough on the other items, you may find their action price to still keep you under the price of the riding skill.